Notched the first record close since november of 2021. It was up. 90 . It wasnt the only index to set a record. S p was up, too. The 14th record of the year. The dow broke a threeday losing streak and trading off. 75 . Nasdaq 100 set a record yesterday. If you look at treasury yields on this first trading day of march, you see the tenyear yielding 4. 227. Twoyear yield at 4. 58. And Congress Passed the shortterm funding bill sending it to President Bidens desk last night. It averts a partial Government Shutdown that would have happened this weekend. It is part of the broader bipartisan deal to push back the deadline for 6 of the 12 spending bills tofund the agencies until next friday and the remaining six until march 22nd. New York Community bancorp shares plunge after replacing the leadership. Leslie picker has the latest. Reporter andrew, good morning. The latest news is just salt in the wounds of investors who held on to new York Community bancorp shares through the year. The stock
85 level and the u. S. Dollar index taking a breather for a minute in conjunction with yields. We will look at that ahead of powell. The twoyear year yield flat on the day about 469. We head for 73 earlier this morning. Tremendous volatility. In one week 15 basis point move from peak to trough. More of the bond selloff further down the iteration card with a two basis point move nearly three basis point at the 30 year and a 10 year at 437 other day about two basis points higher. Earlier today Raphael Bostic reiterated expectation for just one rate cut this year. Look how dramatically the market has changed since january. When the expectation was more than six cuts. Now it is moved to less than three. Sitting on a coin toss for summer rate cuts in and of itself. The market is diverging from the feds dot plot on how many we make it. As we await chair powell today that t. Rowe price cio says the biggest risk for the fed is cutting Interest Rates too soon. Putting for an Economic Perspectiv
Quarter of record profits, all thanks to revival in the chip sector, but shares are falling as it prepares for Slower Growth in the mobile space. All right. A warm welcome to you. Welcome to this jobs friday. No, its not a jobs friday. Because of this. House republicans today are holding a closed door meet to go discuss plans for budget and fiscal matters as the u. S. Government shutdown hits day four. There is little action in congress as the budget impasse looks like it could very much into the debt ceiling deadline of october 17. Reports suggest john boehner has signaled he wont let the u. S. Default even if he has to enlist votes from democrats. The Treasury Department is warning a default would be catastrophic, plunging the u. S. Into the worst recession than that experienced 2007 to 2009. The president has canceled a trep into indonesia next week. And the shutdown debt ceiling on the minds of people all across the United States, Brian Sullivan moderated a Panel Discussion last ni
Alexandria Ocasio-Cortez (D-N.Y.) and other prominent Democrats are hitting at Republicans for their plans to go after woke spending, including funds for the Obama trail in Georgia.
House Budget Committee Republicans are proposing billions of cuts from wasteful EPA programs, Biden s student loan relief, and reducing fraud in food stamp programs, as budget fights loom.